Superbet acquires Lucky7 to boost European expansion ambitions

Romanian operator Superbet has acquired a 60% stake in online casino operator Lucky7 to expand its reach in Europe’s online gaming market.

The majority stake purchase is the second step in a partnership between the two operators after Superbet invested in Lucky7’s start-up phase back in early 2019.

Lucky7 operates online casino brands across multiple markets in Europe and the Americas, while it has several licences pending in central and eastern European territories.

Superbet expects the online casino operator, which reported net gaming revenue of €17m for Q2 2020, to enter at least three new markets over the next 12 months.

Lucky7 was founded by Olof Orn, Karl Ahlberg and Magnus Petersson.

“Lucky7 is an acquisition that complements our current expertise well and further diversifies the Superbet Group across multiple geographies,” said Superbet CEO Johnny Hartnett.

“Additionally, it significantly boosts our online gaming revenue and brings product and marketing expertise the group will benefit from for years to come.

“I have long been an admirer of Olof and the team from the other businesses they were involved with in the sector.

“Being able to partner with them to grow together is a great opportunity. The initial weeks of the partnership has strengthened my view that we have a great growth opportunity in front of us,” he added.

Superbet’s online gaming acquisition comes one year after private equity firm Blackstone invested £150m into the sports betting business which was founded by Sacha Dragic in 2008.